A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Buyouts - mamamt

Posted: Jun 22, 2011

Has anyone on this board ever had a good experience with a buyout?

I was at Cymed when they were bought by SPI many moons ago. My personal experience with buyouts is that the most important indicator is not what management tells you but what they actually do. If managers are leaving, that should be your red flag to get out ASAP - do not pass Go, do not collect $200.

Of course, that's just my experience, and that's why I was wondering if anyone actually had a good experience with a buyout.

Nope - hmmm

[ In Reply To ..]
I've been through 3 buyouts. Once was working at hospital in a completely different aspect of healthcare - I was let go along with a lot of other really good people.

I worked for Omnimed Transcription - they got bought out by Medquist. Pay went down.

I worked for Encompass - they got bought out by Nuance. Another pay cut.

The only good changes I've experienced is by finding a better job with another organization.

Are there some mergers that are win/win for everybody? Probably - I just haven't been through one.

My experience with being bought out was NOT good. - Meerkat - s/m

[ In Reply To ..]
New owner called a web meeting, and told us little would change. What changes that did come, would be good ones that benefited the MT. Hah! WRONG!

The MTs that came with the buyout were put under a microscope, and criticized at every opportunity. We received a hefty, across-the-board pay cut. No amount of effort has ever been able to make up for the lost income. Even though we're not micromanaged very much, we are for sure micro-QA'ed. The old company never offshored. The new one did, and most of the good work went offshore, and we were stuck with the dregs. More NJA times, and more and more flimsy excuses as to why that was. Software changes every other month, it seemed. Lost accounts, MTs being bounced from account to account. Nearly impossible to keep up min. daily line count, especially with all the new, heavy ESL accounts, and constant software and job description changes. After quite a few years with the company, I now make half what I did when I first started. We were told all the really great managers we had at the old company would stay on, that not much there would change. But one by one, they were quietly shoved out. It was always quick, unexpected, and mysterious when they disappeared. The new upper management are cold, distant, and completely out of touch with what it is that a medical transcriptionist actually does. I guess they just sit up in their offices and think we spin flax into gold. Although in a way, that's sort of what we do. Only we never get to see any incentive or profit ourselves, from producing it.

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